In this undated file photo, workers man an assembly line at an auto factory in Qingzhou, Shandong province. (WANG JILIN/FOR CHINA DAILY)

While seeking to promote technological strengths, centrally-administered state-owned companies have built an array of signature projects over the past decade, such as the Hong Kong-Zhuhai-Macao Bridge, the Baihetan hydropower station and Hualong One reactor, according to Weng Jieming, deputy head of SASAC

BEIJING – China's state-owned companies have become backbones in the country's pursuit of high-quality economic development over the past decade, an official said Friday.

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Value-added output of supervised enterprises by the State-owned Assets Supervision and Administration Commission of the State Council amounted to 111.4 trillion yuan ($16.65 trillion) from 2012 to 2021, Weng Jieming, deputy head of SASAC, told a press conference.

The figure logged an annual average increase of 9 percent, which outpaces China's annual average GDP growth by 2.3 percentage points, Weng said.

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While seeking to promote technological strengths, centrally-administered state-owned companies have built an array of signature projects over the past decade, such as the Hong Kong-Zhuhai-Macao Bridge, the Baihetan hydropower station and Hualong One reactor, according to Weng.

In terms of contributing to society, Weng noted that centrally-administered state-owned companies over the past decade have paid a total of 18.2 trillion yuan of taxes and fees, and transferred state assets totaling 1.2 trillion yuan to replenish the social security funds.

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